Populism Flashcards
What was the Populist Movement (1890-1900)?
A political movement that emerged in the Southern and Western U.S., representing farmers, workers, and silver supporters who felt excluded from American prosperity.
Why did the Populist Party form?
Due to economic hardship, especially among farmers, and opposition to big business, banks, and the gold standard.
What was the main monetary policy issue for Populists?
The debate over silver vs. gold; Populists supported bimetallism (using both silver and gold for currency) to combat economic depression.
What was the Sherman Silver Purchase Act (1890)?
A law that required the U.S. government to purchase large amounts of silver each month, increasing its use in coinage.
Why did President Grover Cleveland repeal the Sherman Silver Purchase Act in 1896?
He believed it undermined business confidence, angering silver supporters in the West.
What was the impact of falling crop prices on farmers?
Wheat and cotton prices plummeted, and high tariffs made U.S. agricultural exports less competitive internationally.
When and where was the Populist Party officially formed?
July 1892 at a convention in Omaha, Nebraska.
Who was the Populist Party’s 1892 presidential candidate?
James B. Weaver, who received one million votes.
What were key policies in the Populist Party’s 1892 platform?
Regulation of railroads and freight prices
• Increased government regulation of farm prices
• A graduated income tax
• Direct election of U.S. senators
• An eight-hour workday
• Currency reform (away from the gold standard)
What economic class did the Populist Party primarily represent?
Farmers and rural workers, particularly in the South and West
